Senior Secured Documents definition
Examples of Senior Secured Documents in a sentence
The Collateral Agent may, without the approval of the Majority Creditors as required by Section 5.6 hereof, release any Collateral under the Security Documents which is expressly permitted to be sold or disposed of by the Borrower and its Affiliates, including, without limitation, the Guarantors, pursuant to all Senior Secured Documents and execute and deliver such releases as may be necessary to terminate of record the Collateral Agent’s security interest in such Collateral.
In the case of deposits maintained with Banks, the terms of such letter shall be subject to the provisions of the Bank Credit Agreement and the Note Agreement, and, if in effect, any Eligible Additional Senior Secured Documents, regarding setoffs.
This Mortgage is executed and delivered to secure, among other things, Mortgagor’s guaranty of future advances under the Senior Secured Documents.
If the Collateral Agent receives written notice from the Agent and the Company that the lien on any Collateral granted pursuant to any Collateral Document is required to be released pursuant to a transaction permitted by the terms of the Bank Credit Agreement, the Note Agreement and the Eligible Additional Senior Secured Documents, the Collateral Agent shall promptly release such Collateral in accordance with the directions of the Agent and the Company.
It is understood and agreed that this Mortgage secures Mortgagor’s guaranty of present and future advances made pursuant to the Senior Secured Documents and that the lien of such future advances shall relate to the date of this Mortgage.
The Senior Secured Documents are intended to be performed in accordance with, and only to the extent permitted by, all applicable Legal Requirements.
If any provision of any of the Senior Secured Documents or the application thereof to any person or circumstance shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of the instrument in which such provision is contained, nor the application of such provision to other persons or circumstances, nor the other instruments referred to hereinabove, shall be affected thereby, but rather shall be enforceable to the greatest extent permitted by law.
This Agreement and each of the other Senior Secured Documents represent the agreement of the Grantors, the Collateral Agent and the other Senior Secured Parties with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties by any Senior Secured Party relative to subject matter hereof and thereof not expressly set forth or referred to herein or in any of the other Senior Secured Documents.
Subject to Clause 14.1 (Order of application), no provision of this Agreement shall alter or otherwise affect the rights and obligations of any Debtor to make payments in respect of the Senior Secured Trustee Liabilities as and when the same are due and payable and receipt and retention by any Senior Secured Trustee of the same or taking of any step or action by any Senior Secured Trustee in respect of its rights under the Senior Secured Documents to the same.
The Holder hereby consents to the Company and such Subsidiaries' execution and delivery of the Senior Secured Financing Agreement (as defined below) and the other documents executed and delivered in connection with thereto (collectively, the “Senior Secured Documents”) and the performance of their obligations thereunder, and acknowledges that the Indebtedness under the Senior Secured Documents is Permitted Senior Indebtedness for the purposes of the Transaction Documents.